Nvidia beats Apple to become most valuable company ever! It's now worth more than all listed companies in UK
The company on Thursday ended trade on the stock markets with a market value of $3.89 trillion, much above Microsoft and Apple.
Here is everything you need to know about Nvidia's record.
The leading designer of high-end AI chips briefly beat Apple's previous record of being the most valuable company in history, when it touched a market cap of $3.915 trillion. That record was set on December 26, 2024 before being broken in a little over than six months by Nvidia.
Microsoft is currently the second-most valuable company on Wall Street, with a market capitalisation of $3.7 trillion, while Apple is in the third place with a market value of $3.19 trillion.
According to a report by news agency Reuters, Nvidia's growing market value is a result of Wall Street's big bets on the proliferation of generative AI technology. The Jensen Huang-led company's hardware serves as a foundation to the optimism about AI.
The sharp increases in the shares of Nvidia and other Wall Street heavyweights have left people who save for their retirements through widely used S&P 500 index funds heavily exposed to the future of AI technology, Reuters reported.
With the rising demand of AI, tech giants like Google, Microsoft, Meta Platforms, Tesla and Amazon are rushing to build advanced AI data centres to take a lead in emerging AI technology.
This is the exact reason why Nvidia stands to gain, as demand for the company's specialised chips has risen considerably.
Nvidia now accounts for 7 per cent of the S&P 500. Nvidia, Microsoft, Apple, Amazon and Alphabet together make up 28 per cent of the index.
As per the Reuters report quoting LSEG data, Nvidia is now worth more than the combined value of the Canadian and Mexican stock markets.
It also has a higher market value than the total value of all publicly listed companies in the United Kingdom.
The stock's recent rally comes after a slow first half of the year, when investor optimism about AI took a back seat to worries about tariffs and Trump's trade dispute with Beijing.
(With inputs from Reuters)
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